Interesting Facts of the current Shanghai Residential Property Market
Current “first hand” apartments on the market as of September 22nd 2008;
17994 Properties.
Which is in Square meters;
1.8 Million sqm.
68122 Apartments and Houses which have a total area of 6.02 Million in Square Metres have already sold in 2008 so far.
I guess 1.8 Million on the Market at the same time sounds like a lot, but compared to the transactional volume of just September 2007 which was 3.05 Million Units, we realize that there are much fewer units for sale
and this probably clouds the vision of the actual falling demand.
In addition there are 91066 2nd Hand properties for sale in Shanghai. Covering 8.2 Million Square Metres. Which is just slightly less of the units for the same months last year.
Notable New Downtown Developments Opening Prices:
- 30-33000 Rmb per square meter for Shanghai Maison Des Artistes by Hutchison Whampoa.
- 120′000 Rmb per Square Meter for Thomson Riviera Shanghai’s most expensive property
With every Floor the price per square meter goes up 1%.
The “smallest” unit available for sale is 631sqm large. - Lakeville Regency’s famed 3rd Phase from 70′000 Rmb to 125′000 Rmb per square meter.
Despite it’s price tag, the developement is in strong demand with the cities rich. - The Newest Phase of the popular 8 Park Avenue Compound near Jing An Temple on Xikang Rd is asking approximitely 40′000 Rmb per square meter depending on it’s floor.
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